Tyrrells could change hands in Hershey-Amplify deal
Amplify Snack Brands, which itself acquired Tyrrells for £300 million last year, is thought to have become a target of Hershey.
The owner of English crisp brand Tyrrells is reportedly set to be taken over by candy firm Hershey in a 1.6 billion US dollar (£1.2 billion) deal.
Amplify Snack Brands, which itself acquired Tyrrells for £300 million last year, is thought to have become a target of Hershey off the back of a growing US snacks market, according to CNBC.
Hershey is behind Reese’s Peanut Butter Cups and Hershey’s Kisses, and the deal values Amplify at 12 US dollars (£8.98) a share, a 71% premium to Friday’s closing price.
The deal would represent a big move for Hershey boss Michele Buck, who only took up her role this year.
Tyrrells, the English maker of hand-cooked crisps, would form part of any deal.
The up-market crisp maker, which was founded on a Herefordshire farm in 2002, has seen revenues soar since it was taken over by Bahrain-based investment company Investcorp three years ago.
It was sold to Amplify when revenues stood at £84 million as global sales of the crisps were on the up.
Amplify, best known for its SkinnyPop brand in the US, is a major player in the snacking category in the US.
The Tyrrells stable of products include potato, vegetable and crinkle cut crisps and premium popcorn.